Consumer

ARTICLES ABOUT CONSUMER BY DATE - PAGE 2

NEW YORK: US consumer confidence took its biggest tumble in four years in July on a less upbeat jobs outlook, while home appreciation in major cities stalled in May, suggesting a spring pause in housing demand. The disappointing data comes as Federal Reserve policymakers meet to consider whether the US economy is strong enough to warrant an end to the Fed's near zero interest rate policy, perhaps as soon as September. The Federal Open Market Committee, the US central bank's policy-setting group, is meeting on Tuesday and Wednesday.

SAN FRANCISCO: Amazon.com Inc launched a new platform on Tuesday that will help startups advertise and distribute their products directly to millions of Amazon customers, filling an important gap for entrepreneurs trying to reach a wider market of consumers. The online retailer is partnering with more than 25 crowd-funding platforms like Indiegogo and venture capital firms to offer 200 products on the platform, which is called "Amazon Launchpad. " Amazon said it is not working with Kickstarter in "any official capacity" for its program.

NEW DELHI: The Cabinet is likely to approve tomorrow a new Consumer Protection Bill 2015, that seeks to replace the existing law and proposes setting up a regulatory authority to curb unfair trade practices. "The Cabinet is scheduled to meet tomorrow. The Consumer Protection Bill, 2015, is on the agenda," sources said. After the Cabinet approval, the Consumer Affairs Ministry is aiming to introduce the bill in the ongoing monsoon session of Parliament. The new bill, which will repeal the 29-year-old Consumer Protection Act, seeks to create a Consumer Protection Authority on the lines of the US and European countries for fast-tracking redressal of consumer grievances.

MADRID: Spanish consumer demand was buoyant at the end of the second quarter, though growth in the country's construction sector may be slowing slightly, the Bank of Spain said on Tuesday. "Private consumer maintained a high level of dynamism," the central bank said in its economic bulletin for July and August. On Thursday, Spain reports preliminary gross domestic product data for the second quarter that is expected to show a strong economic rebound remains on track after a long recession.

NEW DELHI: Rakesh Kapoor , chief executive at British consumer goods firm Reckitt Benckiser, on Monday said India is showing "improvement in consumer sentiment" even as the maker of Dettol antiseptic liquid and Durex condoms reported better-than-expected performance for the quarter ended June. "The pickup in emerging markets was mixed with an improvement in consumer sentiment in some countries, such as India, but challenging conditions in others, including Brazil and Indonesia ," Kapoor said.

BENGALURU: Investment bank Mape Advisory Group and Fireside Ventures have together invested Rs 1 crore in pre-launch round of funding in Delight Foods, an ecommerce platform that brings together iconic Indian food brands from across the country under one umbrella. The two companies will co-invest in further rounds as well, but they have not decided on a final amount as yet. The Bengaluru-based Indian food portal has been launched by Ramesh Krishnamurthy, who has 25 years of experience in fast-moving consumer goods in companies such as Unilever, ICI Paints and Nokia, and as the chief commercial officer of Mumbai International Airport in his last stint.

MUMBAI: Tata group chairman Cyrus Mistry said the group has to create an orgnisational culture where the customer is always first to achieve the targets articulated in the group's Vision 2025. In order to build such a culture, the group will have to do the following things he said. One, it will have to remain close to customers. 'There is no substitute to meeting customers and being in constant touch with them. Deep business insights emerge from this closeness to consumers ' he stated in a company newsletter.

KOLKATA: Consumer durable major Godrej Appliances today said it is working on differentiated online strategy for its products in the wake of deep discounting by e-retailers. "When it comes to discounting by the online players, we are working on a strategy of differentiated offering with our strategic online partners so that together we offer a value to the end consumer which is not based on the discounted price but on the overall product proposition," Godrej Appliances Business Head & EVP Kamal Nandi told.

NEW DELHI: To encourage use of technology and save paper, the New Delhi Municipal Council (NDMC) has decided to offer incentives to electricity and water consumers who opt for bills through email only. "Electricity and water consumers in NDMC areas can now opt for receiving their bills through email only in lieu of physical bill and get a rebate of Rs 20 per monthly bill," a senior NDMC official said. "Option can be exercised by registering for this service from a link at home page of NDMC website "quick pay electricity/water bill".

BENGALURU: Bengaluru-based Valencia Nutrition, launched VitaMe, a multi-flavoured, multi-nutrient enriched, low-calorie water last November, giving Indian consumers a healthier option to carbonated beverages or sugar and preservative filled juices. In just eight months of hitting the market, the company has sold one lakh bottles of VitMe across Bengaluru and Chennai, clocking in Rs 3 lakh a month. The company sells at organized retail stores, stand-alone supermarkets, college campuses and canteens of corporate offices.